LAI SUN DEV (00488) plans to sell yacht-related business for 49.13 million euros.

LAI SUN DEV (00488) announced that on May 28, 2026, the company's wholly-owned subsidiary, Action Charm Limited, plans to sell 81.4% of the equity of Camper & Nicholsons International S.A. to Wave Expandary Limited for a total consideration of 40 million euros. On the same day, the buyer, seller, and target company entered into a shareholder agreement, which includes provisions (i) granting a put option to the seller, the exercise of which is at the full discretion of the seller; and (ii) granting a call option to the buyer, the exercise of which is not at the discretion of the seller or LAI SUN DEV. The respective prices of the put option and call option are expected to be 9.135 million euros each (approximately 18.27% of the total estimated value of the target company). This price will be realized through the sale of 18.6% of the issued share capital through a transfer of ownership, giving the buyer 98.27% of the equity in the target company. It is reported that the target company is mainly engaged in providing yacht brokerage and leasing, yacht management, leasing management, new yacht construction and design management, insurance solutions, corporate services, and international super yacht crew placement. The announcement stated that the sale will allow the LAI SUN DEV group to streamline its business focus and reallocate management attention. The sale will also strengthen the liquidity and cash flow of the LAI SUN DEV group. The net proceeds from the sale will enhance the overall financial flexibility of the LAI SUN DEV group and will be used for general operating capital needs and/or to repay existing debts.